Further assistance to Holden not a “stay of execution”: Weatherill

Negotiations to increase assistance to Holden are focussed on the long-term, SA Premier Jay Weatherill has said, though would not comment on reports that the car maker had secured another $200 million.

"The objective is to secure a future for Holden," said Weatherill, according to AAP.

Holden was given $275 million in March last year – on the condition that it continued manufacturing in Australia until at least 2022 – from the federal, SA and Victorian governments.

Weatherill’s and the federal governments and are in discussion with Holden, which, according to a report yesterday by Carsguide, is on the verge of securing $200 million on top of last year’s $275 million bailout.

Last Friday 400 workers that had accepted voluntary redundancies at Holden’s Elizabeth plant left the company, with the workforce shrunk to 1,700. In 2004, that number was 7,000.

The company wants workers to agree to pay cuts worth as much as $200 a week for some, though the AMWU has said this would not happen.

Image: caradvice.com.au

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